ROYAL INSURANCE CORPORATION OF BHUTAN LIMITED

AUCTION NOTICE

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RICBL/HO-LD(5)/2015/10081

AUCTION NOTICE

The following properties will be sold in an open auction on 12th December 2015 at 10:30 AM in the Conference Hall, RICBL, Head Office, Thimphu on “AS IS WHERE IS BASIS”. The interested bidders are requested to physically inspect the properties before the auction.

Sl. No.Description of property
Location		Contact details
1Tata LPT 1618 (2010 model), BP-1-A2612Sunkosh, Tsirang.
17114385/77609824
22.5 acres land, P/No.84, T/No. 42Kilkhorthang, Tsirang.17114385/77609824
361 Decimals dry land, T/No.101.Kilkhorthang, Tsirang17361297/1711703
4Flat No.5, on the 2nd floor,
P/No.188, T/No. 920.		Batomathi, Phuentsholing.Batomathi, Phuentsholing.
5Tata Indica V2 (2009 model),BP-1-B5404Phuentsholing Regional Office.16924943
65,663 sq.ft land under T/No.1867,
P/No.GT-2432		Gelephu Thromde, Sarpang.17764506
720 decimal land under T/No.2555,(old)  P/No.168,(old)  T/No.851, (new)  P/No.GT-1-1657(new).Pemathang, Gelephu, Sarpang.17764506
8Tata LPT 709/38 (2011 model),
BP-1-A2789		RICBl,Head office,Thimphu.17620450
9Eicher Terra 16 (2007 model), BP-2-A3299Olakha, Thimphu17912691
10Volvo Hydraulic Excavator (2010 model), BP-1-A2657Zhemgang, Branch Office17912691
11Eicher Terra 16 (2010 model), BP-1-A2603Phuentsholing, Rabten Workshop.77604263
1213 decimal dry Land, under T/No.PT-634,  P/No.115/A (individual Ownership)Nala Pani, Phuentsholing17620450
139,979.20sq.ft land and 3 storied building  under T/No.93,Sherubling, Nubee, Trongsa.17598931

Term and conditions:

  1. All interested bidders shall register themselves at 9:30 AM on the day of auction upon payment of non-refundable entry fee of Nu.300.
  2. The individual bidders will have to deposit an earnest money of Nu.25,000/- (Ngultrum Twenty Five Thousand only) in the form of cash/cheque at cash counter, RICBL, HO, Thimphu, during the time of registration.
  3. The registered bidders will be provided a token during the time of registration. The bidders must produce the token during the time of auction.
  4. The successful bidder shall deposit 25% of the bid value on the day of the auction in the form of cash/cheque and the balance of 75% within 10 days from the date of auction.  
  5. The unsuccessful bidder’s earnest money will be refunded immediately after the auction.
  6. In the event the successful bidder fails to deposit 25% of the bid value, then the 2nd highest bidder shall be considered as the successful bidder and the earnest money of the 1st successful bidder shall be forfeited and so on and so forth.
  7. In case the successful bidder fails to deposit 75% as stipulated, the 25% bid value adjusted earlier with earnest money deposit shall be forfeited
  8. The successful bidder will not be entitled to possession of the property(ies) until the total purchase price have been fully paid and adjusted.
  9. The Auction Committee shall presume that the bidders have duly inspected the properties prior to the auction and shall not entertain any complaints thereafter.
  10. The successful bidders shall bear all the fees/charges/taxes applicable while transferring the ownership of the property(ies).
  11. The Auction Committee reserves the right to reject bids without assigning any reason thereof.
  12. The RICB reserves the right to withdraw the property from the list of auction before it is actually auctioned.
  13. For more information, kindly contact Legal Division, RICBL, Thimphu, at 17912691 or Credit and Investment Department, RICBL, Thimphu at 17620450 or visit our website www.ricb.com.bt